Unmanned Composites Market Analysis Type of Composite Material (Carbon Fiber, Glass Fiber, Aramid Fiber, Others), Application (Military and defense, Agriculture, Transportation, Construction, Others), End-Use Industry (Aerospace and defense, Agriculture, Oil and gas, Others) & Forecast
- PUBLISHED ON
- 2024-05-10
- NO OF PAGES
- 288
- CATEGORY
- Aerospace & Defense
The global unmanned composites market was valued at around USD 1.6 billion in 2021 and expected to grow at a CAGR of 15.54% during the forecast period.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 1,600 million |
Market Forecast in 2033 | USD 8,170 million |
CAGR % 2023-2033 | 15.5% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Production and consumption analysis by countries, company analysis by revenue, sales, gross margin and production capacity. |
Key Companies | Hexcel Corporation, Toray Industries, Inc., Teijin Limited, Solvay S.A., Owens Corning, SGL Carbon SE, Mitsubishi Chemical Corporation, Gurit Holding AG, TenCate Advanced Composites, Axiom Materials, Inc., |
Covid-19 Impact:
The global unmanned composites market has been impacted by the COVID-19 pandemic, much like many other industries. The pandemic has disrupted global supply chains, slowed down manufacturing operations, and impacted the demand for unmanned systems. However, the impact of the pandemic on the unmanned composites market has been mixed.
On one hand, the pandemic has caused delays in the development and production of unmanned systems, which has affected the demand for unmanned composites. The closure of factories and the disruption of logistics and transportation have caused delays in the delivery of composite materials, as well as the manufacture and delivery of unmanned systems.
On the other hand, the pandemic has also accelerated the adoption of unmanned systems in various industries, such as the medical and logistics industries. This has created new opportunities for the unmanned composites market, as the demand for lightweight and durable materials for these systems continues to grow.
Furthermore, the pandemic has also highlighted the importance of unmanned systems in maintaining social distancing and reducing human-to-human contact in various industries. This has increased the demand for unmanned systems and, consequently, for unmanned composites.
Overall, the impact of the COVID-19 pandemic on the global unmanned composites market has been mixed, with both negative and positive effects. However, as the world recovers from the pandemic and the demand for unmanned systems continues to grow, the unmanned composites market is expected to experience steady growth in the coming years.
Market Dynamics:
Drivers:
Growing demand for lightweight and durable materials: The need for lightweight and durable materials is driving the demand for composites in unmanned systems. Composites offer high strength-to-weight ratios, which is critical for achieving optimal performance in unmanned systems.
Increasing adoption of unmanned systems in various industries: Unmanned systems are being increasingly adopted in various industries such as military and defense, agriculture, oil and gas, and transportation. This is driving the demand for unmanned composites as they offer several advantages over traditional materials.
Technological advancements in composite materials: Technological advancements in composite materials are leading to the development of new and improved materials that offer better performance and durability. This is driving the adoption of composites in unmanned systems.
Focus on reducing carbon emissions: There is growing pressure to reduce carbon emissions and increase the use of sustainable materials. Composites are eco-friendly materials that offer several advantages over traditional materials, and this is driving the demand for unmanned composites.
Increased investment in R&D: Companies are investing heavily in R&D to develop new and improved composite materials that offer better performance and durability. This is driving the growth of the unmanned composites market.
Restraints:
High cost of composites: Composites are often more expensive than traditional materials, which can be a significant barrier to adoption in some industries.
Limited availability of raw materials: Some composite materials require rare or specialized raw materials that may be difficult to obtain or source, leading to supply chain issues and potentially impacting the cost of the final product.
Stringent regulations: The development and use of unmanned systems are subject to stringent regulations and standards, which can be a challenge for manufacturers of unmanned composites.
Regional Analysis:
North America: North America is a significant market for unmanned composites, primarily driven by the growing demand for unmanned systems in the military and defense sector. The United States is the largest market in the region, followed by Canada.
Europe: Europe is a significant market for unmanned composites, driven by the increasing adoption of unmanned systems in various industries such as agriculture, transportation, and defense. The United Kingdom, Germany, France, and Italy are the major markets in the region.
Asia-Pacific: Asia-Pacific is expected to be the fastest-growing market for unmanned composites, driven by the increasing adoption of unmanned systems in various industries such as agriculture, transportation, and construction. China, Japan, South Korea, and India are the major markets in the region.
Middle East and Africa: The Middle East and Africa are expected to be significant markets for unmanned composites, driven by the increasing adoption of unmanned systems in the defense and oil and gas sectors. The United Arab Emirates, Saudi Arabia, and South Africa are the major markets in the region.
Latin America: Latin America is a relatively small market for unmanned composites, but it is expected to experience moderate growth in the coming years. Brazil, Mexico, and Argentina are the major markets in the region.
Competitive Landscape:
The global unmanned composites market is highly competitive, with several established players and new entrants competing for market share.
Hexcel Corporation
Toray Industries, Inc.
Teijin Limited
Solvay S.A.
Owens Corning
SGL Carbon SE
Mitsubishi Chemical Corporation
Gurit Holding AG
TenCate Advanced Composites
Axiom Materials, Inc.
These companies are focusing on various strategies such as mergers and acquisitions, partnerships, collaborations, and new product launches to strengthen their position in the market. For instance, in 2020, Teijin Limited launched a new carbon fiber composite material, Tenax PWX2, which is specifically designed for the primary structural parts of unmanned aircraft systems. Similarly, in 2019, Hexcel Corporation acquired ARC Technologies, Inc., a manufacturer of custom RF / EMI and microwave absorbing composite materials, to expand its product offerings in the defense and aerospace sectors.
The market is also witnessing the entry of several new players, which is increasing the level of competition. These new players are focusing on developing innovative composite materials and expanding their product portfolios to gain a foothold in the market.
Overall, the global unmanned composites market is highly competitive, and companies are focusing on product innovation, partnerships, and acquisitions to maintain their market position and gain a competitive edge.
Why to buy this Report?
The report provides quantitative and qualitative aspect for the market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in the market, these companies are bifurcated into niche players, the leaders and major contenders.
• Business Model
• Production Capacity, Revenue, Sales, Gross Margin
• Key Business Strategy
• SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:
• Company Share Analysis from 2018-2022
• Company Analysis by Revenue and Sales
• Company Production Capacity, Gross Margin
• Company Share Analysis by Application/End Use
• Company Share Analysis by Product/Specification
Market Segmentation:
Type of Composite Material:
• Carbon Fiber
• Glass Fiber
• Aramid Fiber
• Others.
Application:
• Military and defense
• Agriculture
• Transportation
• Construction
• Others.
End-Use Industry:
• Aerospace and defense
• Agriculture
• Oil and gas
• Others.
Region
North America
• U.S.
• Canada
• Mexico
Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia Pacific
South America
• Brazil
• Argentina
• Rest of South America
Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of Middle East and Africa
Frequently Asked Questions
• What is the market size and growth projections?
• What is the market size and growth projection for each of the market segments and sub-segments across Countries & Regions?
• What are the top performing segments, and countries / regions of each of the markets?
• What is the market size and growth rate across key countries / regions?
• How big is the global & regional market in terms of revenue and volume?
• How far market will grow in forecast period in terms of revenue and volume?
• What factors will influence demand and supply trends across each markets during the forecast period?
• What are the technology trends shaping various markets?
• Which country / region has more opportunities?
• What is the COVID-19 impact on the market and how long will it take to recover?
• Who are the key competitors of market Players?
• What are the market share (%) of Key Players?
• What are the Merger & Acquisition, New Product Launch, Recent Development within each of the Markets?
• What are PEST analysis, Ecosystem Analysis, Porter's Five Forecast Analysis, Ansoff Matrix, and SWOT Analysis among other analyses for diverse markets?
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
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Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
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